Commerzbank’s rates strategists said a likely upgrade of Greece by credit rating company Moody’s Investors Service on Friday “could do the trick” for the Greek debt agency “to dip a toe into the primary market over the next weeks, possibly as early as next week.”

Any deal would underscore what has been a remarkable turnaround for Greece, a country that many doomsayers had confidently predicted would exit the euro zone as it struggled to cope with mounting debts. Its debt pile was still at 175.6% of gross domestic product at the end of 2013–by far the highest in the euro zone. Even so, the planned bond sale is likely to be well received. Greece’s 10-year bonds were trading with yields a nudge above 6% Friday according to Tradeweb, the lowest since 2010. They were trading above 30% as recently as 2012. Yields fall as prices rise.

“We don’t think a return to the bond market is premature and expect the issuance to go well at the right price with a reasonable concession,” analysts at Morgan Stanley wrote, in a note to clients Thursday.

Greece said it intended to sell a bond with a maturity of between three and five years. Morgan Stanley analysts reckon a fair yield on a five-year bond would be about 5.3%, or 4.2% for a three-year deal.

The short-dated nature of the potential issue is likely to appeal to investors given the long-term health of the country remains uncertain.

“It is very difficult to argue that Greek debt levels are sustainable, but most of this debt is owed to official sources with long maturities, with significant periods even before interest is payable. Therefore a short-dated bond issue is arguably a good investment, but we have to remember that the long-term fundamentals remain poor,” said Martin Harvey, fixed income fund manager at Threadneedle Investments in London.